Growth Looking Good for Europe
The European Commission has raised their Growth Forecast for the EU from 1.5% in late February to 1.6% for 2014.
What this means is that the European Union as a whole, including all 26 nations of the EU, are expecting a higher rate of growth throughout the continent thus signalling a period of sustained recovery after the economic downturn of 2008. Furthermore, the economic growth for the 18 country Eurozone remains at 1.2%.
This may not sound all that impressive but it could well be the start of a swing back into boom times for European countries as they look to strengthen their trade ties after years of a bleak economic state, as such, further growth may well be on the horizon and now may well be the best time to make the most of it.
With deficits in decline and businesses rebounding consumers could well be attracted back to the marketplace once again and with the big players in the Eurozone all predicted to see growth it could benefit the whole continent as trade continues to thrive. Growth predictions include:
- Italy: 0.6%
- Spain: 1.1%
- France: 1.0%
- Germany: 1.8%
Inflation is also expected to remain low through 2014 at around 0.8% in the euro-area and unemployment is also expected to drop from 11.8% to 11.4%. By getting ahead of the curve now it is possible to make the most of growth opportunities in Europe.
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